Given the importance of food to many cultures and people, we oftentimes fail to see how various cultures can overtly or covertly divulge information about the importance of certain values just by the manner in which items are arranged in a grocery store. For this activity, each student will identify a large grocery store within 5 miles of his/her residence. Please try to identify a large grocery store chain and is a “dominant culture” store (i.e., a Latin specialty version of a large chain would not be appropriate). Each student should plan to spend at least 60 – 120 minutes at the grocery store taking careful observations of the types of people who frequent the store, the types and availability of the products available for purchase, and the ease of finding both dominant culture (American/White culture) and cultural grocery items. After the observation period, the student should write a brief report that answers the following questions: 1. What type of food or products were most plentiful in the store? What types of food or products were difficult to find? 2. What claims were used to promote food items? Did these items emphasize taste, nutritional value, cost or ease of preparation? 3. What were typically the most expensive items in the store? When a wide range of prices exists for the same type of product, what distinguished the lower from the higher priced versions? 4. What type of behavior did you observe on the part of the shoppers? Under what circumstances did shoppers interact with one another? 5. How were meats and poultry labeled and displayed? What efforts were made to distance these products from their original animal forms? 6. What did you observe about the sizes in which different types of products were available? What did these sizes imply about the social settings in which these products will be used? 7. How were foods from various racial/ethnic groups distributed throughout the store? Were some racial/ethnic foods presented as normative whereas others were presented as unusual or exotic? 8. What other observations did you make that informed you about cultural values? What cultural values were evident in the supermarket setting?

Tom Lamb and his long-term personal friend, Kari Legga, have established a flourishing business selling lamb products at retail to several thousand customers from nearby Big City, Michigan. The customers gladly drive the short five miles to the lamb store, because the exquisite taste of the grain-fed lambs, whose fleece at one time was as white as snow, is beyond comparison. The lamb store, called Legga Lamb to Go sells the product for $8.00 per pound and purchases them at $3.00 per pound. Average weight per order is 5 pounds. Variable selling costs are 20 percent of sales per pound and fixed costs are $180,000 annually.
In the five years that the lamb store has been in existence, their best year ever was selling 100,000 pounds in 2009; the worst year was 2007 when they sold 59,000 pounds.
Required:
a. Determine the gross profit per pound. ___________
b. The break-even sales in dollars are $ _______________________. .
c. Legga Lamp has a target profit of $122,000. Therefore, the sales needed to achieve this target profit are $ _______ or ________ pounds of product.
d. Kari and Tom are disagreeingon an important business concept. She would like to increase target profit to $150,000 annually. Tom is reluctant to go along with this because he does not feel that the break-even point should be moved that far to the right on the volume-cost-profit graph. Karie snaps back that he is confused with too much college education and graph analysis. They look at you, their financial advisor, for the resolution to this issue. Don't let them down.
Base your advice on sound computations and narrative, including a solid conclusion
e. Review your answer in part c. A new supplier has offered to be the exclusive supplier of lamb to Legga Lamb to Go for a 1 year period of time, under contract. Marilee’s Lambs, Incorporated, an Arkansas company, would sell their lamb products to them for $2.75 per pound, quick-frozen and delivered, with the understanding that Legga Lamb would have to order a minimum of 70,000 pounds at regular intervals throughout the year, as needed. Comment on what Legga Lamb should do. Base your comments on calculations and come to a conclusion.

Please show and break down the calculations.

Use the Dynamic Exhibit to answer the following questions.

1. Fill in depreciation expense in year 3 under each depreciation method when residual value is $30,000 and useful life is 3 years:

2. Fill in the book value at the end of year 1 under each depreciation method when residual value is $36,000 and useful life is 4 years:

3. Move the Useful Life slider from 3 years to 4 years and complete the sentence.

Depreciation expense each year under every method is Higher or Lower when the cost is spread over a longer useful life.

-----------------------------------------------------

Comparing Depreciation Methods

Concept

Over time, fixed assets, with the exception of land, lose their ability to provide services. Thus, the cost of fixed assets such as equipment and buildings should be recorded as an expense over their useful lives. This periodic recording of the cost of fixed assets as an expense is called depreciation. Depreciation can be caused by physical or functional factors. Physical depreciation factors include wear and tear during use or from exposure to weather. Functional depreciation factors include obsolescence and changes in customer needs that cause the asset to no longer provide the services for which it was intended.

The three depreciation methods used most often are:

• Straight-line depreciation
• Units-of-output depreciation
• Double-declining-balance depreciation

The straight-line method provides for the same amount of depreciation expense for each year of the asset’s useful life.

The units-of-output method provides the same amount of depreciation expense for each unit of output of the asset. Depending on the asset, the units of output can be expressed in terms of hours, miles driven, or quantity produced.

The double-declining-balance method provides for a declining periodic expense (twice the straight-line rate) over the expected useful life of the asset.

Learning Expectation

Compare depreciation expense, accumulated depreciation, and book value using the straight-line method, units-of-output method, and double-declining-balance method.

May You refund my question, I already resolve this successfully!

1.5 Suppose you believe that, in general, graduates who have majored in your subject are offered higher salaries upon graduating than are graduates of other programs. Describe a statistical experiment that could help test your belief.

1.6 You are shown a coin that its owner says is fair in the sense that it will produce the same number of
heads and tails when flipped a very large number of times.

a.Describe an experiment to test this claim.

b. What is the population in your experiment?

c. What is the sample?

d. What is the parameter?
e. What is the statistic?

f. Describe briefly how statistical inference can be used to test the claim.

1.7 Suppose that in Exercise

1.6 you decide to flip the coin 100 times.

a.What conclusion would you be likely to draw if you observed 95 heads?
b. What conclusion would you be likely to draw if you observed 55 heads?
c.Do you believe that, if you flip a perfectly fair coin 100 times, you will always observe exactly 50 heads? If you answered “no,” then what numbers do you think are possible? If you answered “yes,” how many heads would you observe if you flipped the coin twice? Try flipping a coin twice and repeating this experiment 10 times and report the results.

1.8 Xr01-08 The owner of a large fleet of taxis is trying to estimate his costs for next year’s operations. One major cost is fuel purchase. To estimate fuel purchase, the owner needs to know the total distance his taxis will travel next year, the cost of a gallon of fuel, and the fuel mileage of his taxis. The owner has been provided with the first two figures (distance estimate and cost of a gallon of fuel). However, because of the high cost of gasoline, the owner has recently converted his taxis to operate on propane. He has measured and recorded the propane mileage (in miles per gallon) for 50 taxis.

a.What is the population of interest?
b. What is the parameter the owner needs?

c. What is the sample?
d. What is the statistic?

e. Describe briefly how the statistic will produce the kind of information the owner wants.

home / study / business / finance / finance questions and answers / johnny appleseed owns a 356 acre fruit orchard with scenic river frontage along the floodsalot ... Your question has expired and been refunded. We were unable to find a Chegg Expert to answer your question. Question: Johnny Appleseed owns a 356 acre fruit orchard with scenic river frontage along the Floodsalot Ri... Johnny Appleseed owns a 356 acre fruit orchard with scenic river frontage along the Floodsalot River which he purchased in 1976. Early in the 1930s, the state government received money from the federal government to be used on projects that would stimulate the economy and create jobs. Starting in 1934, the state began to erect a dam 4 miles upstream from what would become Johnny’s property. The dam was completed in 1939 and provided electricity, water for drinking, flood control and recreational activities on the reservoir. In 1996, the state experienced an unusually rainy winter and that spring, after almost 60 years of reliability, the dam began to show evidence of stress and leaks began to appear. Engineers conducted an emergency inspection of the dam and concluded that water must be released quickly or the valley below might run the risk of a catastrophic flood. Acknowledging that releasing water in the manner recommended would cause some limited flooding, the agency responsible for operating the dam released the water. Sadly, Johnny’s fruit orchard was flooded and, as a result, he lost his crop for that year. In addition, many of the fruit trees in his orchard were damaged beyond repair and Johnny was faced with the expensive prospect of replacing these trees and waiting several years for the trees to mature enough to bear fruit. ASSIGNMENT: Assuming that there has been a “taking” as defined in your textbook, was this a taking under the state’s right of eminent domain (therefore requiring due process and compensation) or a taking under the state’s police powers (therefore no compensation is required)? You decide which taking applies in this case and write a paper defending your decision and how pertinent and relevant your authority is for supporting your position. If anyone could offer me their opinion on what direction to take this in I would appreciate it! To clarify: "taking" means a government seizing or property

Internal Rate of Return Method—Two Projects

Munch N’ Crunch Snack Company is considering two possible investments: a delivery truck or a bagging machine. The delivery truck would cost $48,601.8 and could be used to deliver an additional 54,000 bags of pretzels per year. Each bag of pretzels can be sold for a contribution margin of $0.38. The delivery truck operating expenses, excluding depreciation, are $0.52 per mile for 18,000 miles per year. The bagging machine would replace an old bagging machine, and its net investment cost would be $46,248.75. The new machine would require three fewer hours of direct labor per day. Direct labor is $15 per hour. There are 250 operating days in the year. Both the truck and the bagging machine are estimated to have six-year lives. The minimum rate of return is 11%. However, Munch N’ Crunch has funds to invest in only one of the projects.

a. Compute the internal rate of return for each investment. Use the above table of present value of an annuity of $1. If required, round your present value factor answers to three decimal places and internal rate of return to the nearest percent.

b. The bagging machine rate of return was less  than the minimum rate of return requirement of 11% while the delivery truck rate of return was greater  than the minimum rate of return requirement of 11%. Therefore the recommendation is to invest in the delivery truck .

Problem:

On Monday morning when you enter your law office, you find Dr. Ben Heartache, the fastest scalpel in the West, waiting. He needs legal advice.

Two weeks earlier, Dr. Heartache explained, he emerged from the operating room after completing an exhausting three hour operation. He was immediately asked to go to the emergency room in order to assist with a diagnosis regarding an accident case. When the doctor arrived in the emergency room, he found an unconscious Professor Smith being attended to by his son, David

David was so upset it was difficult for the doctor to find out exactly what had taken place. Apparently, the professor and his son were out for a Sunday drive when his car was hit by a large truck. The doctor immediately concluded that the professor needed emergency brain surgery, and advised David that a request had already been made for a prominent brain surgeon from the State University to come and operate on his father. Unfortunately, the university medical facility was located 78 miles away, and the professor's condition was such that he might die before the

surgeon arrived.

David pleaded with Dr. Heartache. "I know you're exhausted, but I'm begging you. I'll give you $45,000 if you will operate on my father. Please, please, operate!" The doctor, moved by David's plea, decided to operate. Fighting back fatigue, Dr. Heartache performed valiantly. I certainly earned that fee, the doctor said to himself, as he emerged from the operating room.

The doctor truly put everything he had into the operation, but the injury was too great, and the professor died a few hours after the operation. When David learned what had happened, he fainted.

Two days later, Dr. Heartache received an angry letter from David. "Your incompetence was responsible for my father's death," he wrote. "Obviously, I'm not paying you a red cent.

Try and collect, and I'll make your life a living hell!"

Dr. Heartache feels that a valid contract entitling him to $45,000 was entered into by both parties. He feels that he has earned the fee, and would like to collect. How would you advise the doctor?

In a study of high-achieving high school graduates, the authors of a report surveyed 834 high school graduates who were considered "academic superstars" and 436 graduates who were considered "solid performers." One question on the survey asked the distance from their home to the college they attended.

Assuming it is reasonable to regard these two samples as random samples of academic superstars and solid performers nationwide, use the accompanying data to determine if it is reasonable to conclude that the distribution of responses over the distance from home categories is not the same for academic superstars and solid performers. Use

α = 0.05.

State the null and alternative hypotheses.

H₀: Student group and distance of college from home are independent.
H_a: Student group and distance of college from home are not independent. H₀: Student group and distance of college from home are not independent.
H_a: Student group and distance of college from home are independent.     H₀: The proportions falling into the distance categories are not all the same for the two student groups.
H_a: The proportions falling into the distance categories are the same for the two student groups. H₀: The proportions falling into the distance categories are the same for the two student groups.
H_a: The proportions falling into the distance categories are not all the same for the two student groups.

Calculate the test statistic. (Round your answer to two decimal places.)
χ² =

What is the P-value for the test? (Round your answer to four decimal places.)
P-value =

What can you conclude?

Do not reject H₀. There is not enough evidence to conclude that the proportions falling into the distance categories are not all the same for the two student groups. Reject H₀. There is convincing evidence to conclude that the proportions falling into the distance categories are not all the same for the two student groups.     Reject H₀. There is convincing evidence to conclude that there is an association between student group and distance of college from home. Do not reject H₀. There is not enough evidence to conclude that there is an association between student group and distance of college from home.

Consider a market demand curve, in which the quantity demanded is on the horizontal axis and the price is on the vertical axis. If the demand curve is flat, then the price elasticity of demand is high in the absolute value. True or False?

The cross-price elasticity of Good X with respect to Good Y is estimated as -0.8. When the price of Good Y suddenly increases, we expect the demand for Good X will decrease. True or False?

We observe the income elasticity for Good X is -1.2. If the government provides extra income to everyone, then we expect the sales of Good X will increase. True or False?

Assume the following model of the economy, with the price level fixed at 1.0:

C = 0.8(Y – T) i = 1000 – 20r

T = 500

G = 1,000

Ms = 1,000

Md/P = 0.5Y – 50ra

A) What are the short-run equilibrium values of Y, and r.

B) Assume that T decreases by 100. By how much will Y increase in short-run equilibrium?

C) Assume that T is back at its original level of 500, but Ms (money supply) increases by 100. By how much will Y increase in short-run equilibrium?